I May Have Just Found My New Credit Card

I'll write more on this in a couple weeks after I've looked at the numbers, but I think I may have just found my new credit card. Details can be found here and are:

• The Schwab Bank Invest First™ Visa Signature® credit card
• Unlimited 2% cash back on purchases
• No minimum monthly purchase amount
• And no annual fee or foreign exchange transaction fees

Of course you do have to have a Schwab brokerage account (where the cash is deposited), but you only need $1,000, so it's no big deal. I'll run the numbers soon and get back to you on what I'm doing.

And, FYI, the cash back is deposited MONTHLY...

Comments

[Daniel]

thanks... Since free investor checking comes with a free brokerage account i might have to get into this!

[rwh]

I have a Schwab brokerage account with a balance of about 2k. I just sold some stock for about $1500 and it's sitting there earning almost nothing. I had planned to move it to my credit union and put it in a CD at about 4%. It would earn about $60/year. But we charge about 15k per year so that would work out to about $300.

I think I'll look into it too.

Thanks for the information. And thanks for saving me the time of applying for the Chase card you have mentioned:)

[Tim]

You don't need $1k min if you also open a Schwab One brokerage with Schwab Bank Investor Checking account or transfer $100/mo to Schwab One acct. since there are no minimums or maint fee for checking acct, no need to keep $1k earning nothing in the schwab one brokerage acct.

[Matt SF]

I saw this as well... I'll be waiting for your review.

Hard to believe the changes in the banking industry this year. Pretty soon, we might be bragging about having private bank accounts at Goldman Sachs at this rate.

[ekrabs]

News of this card has been spreading around all over the internet....

I guess I'm going to look into it too!

[t]

Doesn't look like you need the 1000 min with a checking account.

[ChiPhi08]

Love your site. Thanks for posting news of this card. Had read your recent review and updates on the Chase Freedom card. Saved me the time of applying to Chase (post rewards changes).

I am looking for a visa/mastercard to go along with my Amex Blue card. Citibank is getting ridiculous with annual change in terms and interest rates (even though I have no balance).